Requirements for special deposit.

A deposit is a special deposit if it is: (1) A deposit of funds in a bank under an account agreement; (2) For the benefit of at least 2 beneficiaries, 1 or more of which may be a depositor; (3) Denominated in a medium of exchange that is currently authorized or adopted by a domestic or foreign government; (4) For a permissible purpose stated in the account agreement; and (5) Subject to a contingency.